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SEC announces the Court of Appeal’s confirmation of the Civil Court’s judgement in the GLOBAL insider trading case



Monday 22 June 2020 | No. 120 / 2020


Bangkok, 22 June 2020 – The SEC announced that the Court of Appeal has confirmed the judgement of the Civil Court whereby the two offenders, {A} and {B}, are subject to a civil sanction in the case of insider trading of Siam Global House Public Company Limited (GLOBAL) shares. The civil sanction requires that {A} pay 522,500 baht, and a 7.5 percent annual interest of the benefit he would have received from committing the offense, starting from the case filing date until the payment is completed, while {B} is subject to a civil penalty of 333,333.33 baht. The payments above shall be submitted as state revenue.

The Civil Sanction Committee passed a resolution imposing a civil sanction on {A} and {B} in the case of insider trading of GLOBAL shares on 22 August 2012; however, both persons refused to comply with the civil sanction. Later, on 26 February 2018, the public prosecutor filed a legal action against {A} and {B} with the Civil Court after the SEC had submitted the case for the Court to impose the civil sanction on them in the Undecided Case No. Por. 1060/2561 between the SEC as the Plaintiff and {A} as the first defendant and {B} as the second defendant.

On 25 February 2019, the Civil Court passed a judgment in the Decided Case No. Por. 899/2562 ordering {A} to pay 522,500 baht and a 7.5 percent annual interest of 22,500 baht, starting from the case filing date until the payment is fully completed, and {B} to pay 333,333.33 baht. Both monetary penalties shall be submitted as state revenue. On 26 May 2020, the Court of Appeal confirmed the judgment of the Civil Court (Undecided Case No. 2374/2562 and Decided Case No. 6984/2563). The Court of Appeal’s decision is final.

SEC Secretary-General Ruenvadee Suwanmongkol said: “This is a case of unfair treatment regarding securities trading. The case was subject to a civil sanction, was filed with the Civil Court, and was the first legal case adjudged by the Court’s final decision. The whole process, from the commencement of the prosecutor’s case filing to the Court of Appeal’s final decision, was relatively fast, taking only two years and three months to complete. Should the defendants fail to comply with the Court’s judgment, the SEC will proceed with legal execution according to legal proceedings.”







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Building Confidence in the Capital Market
NEWS
Securities and Exchange Commission
Corporate Communication and Investor Service Department
Tel. (66)2033-9502-5 E-mail: press@sec.or.th
No. 120 / 2020 Monday 22 June 2020
SEC announces the Court of Appeal’s confirmation of the Civil Court’s judgement in the GLOBAL insider trading case

Bangkok, 22 June 2020 – The SEC announced that the Court of Appeal has confirmed the judgement of the Civil Court whereby the two offenders, {A} and {B}, are subject to a civil sanction in the case of insider trading of Siam Global House Public Company Limited (GLOBAL) shares. The civil sanction requires that {A} pay 522,500 baht, and a 7.5 percent annual interest of the benefit he would have received from committing the offense, starting from the case filing date until the payment is completed, while {B} is subject to a civil penalty of 333,333.33 baht. The payments above shall be submitted as state revenue.

The Civil Sanction Committee passed a resolution imposing a civil sanction on {A} and {B} in the case of insider trading of GLOBAL shares on 22 August 2012; however, both persons refused to comply with the civil sanction. Later, on 26 February 2018, the public prosecutor filed a legal action against {A} and {B} with the Civil Court after the SEC had submitted the case for the Court to impose the civil sanction on them in the Undecided Case No. Por. 1060/2561 between the SEC as the Plaintiff and {A} as the first defendant and {B} as the second defendant.

On 25 February 2019, the Civil Court passed a judgment in the Decided Case No. Por. 899/2562 ordering {A} to pay 522,500 baht and a 7.5 percent annual interest of 22,500 baht, starting from the case filing date until the payment is fully completed, and {B} to pay 333,333.33 baht. Both monetary penalties shall be submitted as state revenue. On 26 May 2020, the Court of Appeal confirmed the judgment of the Civil Court (Undecided Case No. 2374/2562 and Decided Case No. 6984/2563). The Court of Appeal’s decision is final.

SEC Secretary-General Ruenvadee Suwanmongkol said: “This is a case of unfair treatment regarding securities trading. The case was subject to a civil sanction, was filed with the Civil Court, and was the first legal case adjudged by the Court’s final decision. The whole process, from the commencement of the prosecutor’s case filing to the Court of Appeal’s final decision, was relatively fast, taking only two years and three months to complete. Should the defendants fail to comply with the Court’s judgment, the SEC will proceed with legal execution according to legal proceedings.”